India's state government and ChromaWay develop blockchain based land registry

India continues to advance in its adaptation to the digital age. This time the Andhra Pradesh state signed an alliance with a startups blockchain dedicated to the development of solutions for the sector of records, purchases and land sales, in order to combat the fraud associated with this important sector of the economy of the state and the country.

The company, called ChromaWay, will work with Andhra authorities to create a pilot to develop blockchain technology so users can track property records and buy-sell transactions. Andhra Pradesh is the first official attempt by an Indian state to eliminate the criminal incidence in this sensitive area within the country's internal operations, where $ 700 million dollars are reported in bribes for land acquisition.

The platform to be built with the Swedish company ChromaWay is part of the projects announced in the heat of the 2017 Blockchain Business Conference, held in the Fintech valley of Vizag, one of the flagship projects of Andhra, held on 9 and 10 of this month. The tool will use distributed accounting technology to provide transparent access to information, thus allowing for the tracking of suspected cases of fraud and a detailed and unmodified record of properties.

"Blockchain is the technology of the future, it will not only change the way we perceive processes, but it also has the potential to transform the economy. Of course, we are all yet to fully discover this technology and therefore the Government of Andhra Pradesh has committed to startups from around the world like ChromaWay to run proofs of concept within their own departments." J. A. Chowdary - Special Secretary and Technology Adviser, Andhra Pradesh (India)

The solution of ChromaWay, whose announcement was made through Twitter, uses a record supported in blockchain and web applications for its management, using its own network for the registry, called Postchain. This blockchain is built from scratch to be applied and has the ductility of being able to integrate into the existing registry systems that the government handles without problems. Users will have access to a detailed and fully transparent record of trading transactions, without suffering the economic damages associated with corruption and potential fraud.

Buyers, vendors, authorities and the economy of the country would benefit from the success and diffusion of this project, since it is a tool that allows the verification of any negotiation associated with land. "Using a new architecture that combines the block chain with a consortium database, ChromaWay has made a record that is transparent, robust and secure, but also has the traditional database features needed for a record," he explained. CNBC the CEO of the startup, Henrik Hjelte.

It is not the first time that authorities in Andhra Pradesh have looked at the potential of distributed accounting technology, and in September the government sealed an alliance with identity startup, WISekey. Meanwhile, ChromaWay has already offered its solutions in Sweden - where it has worked with the country's Lantmäteriet since April - has added a new level to the understanding of blockchain technology, according to Chowdary.

At the end of June, two Indian states reported on their interest in this technology, and the name of Andhra Pradesh added Telangana, as the two Indian territories seeking technological solutions to address the deficiencies of land distribution.